Every few decades in a company’s existence, it is blessed with a truly exceptional leadership talent. Brazilian bank Banco Bradesco is one of the few to have been blessed with two such leadership talents: Lazaro Brandao and Luiz Carlos Trabuco Cappi. Unfortunately, Lazaro Brandao, last month announced that he would be leaving the bank after close to eight decades of service.
By his departure, Lazaro Brandao paved the way for Luz Carlos Trabuco to become an even more influential leader at Bradesco as he was the one appointed to assume Lazaro Brandao’s vacated position.
Before resignation, Lazaro Brandao had been the chairman of the board since 1990 while Luiz Carlos Trabuco Cappi served as the chief executive officer under him. Now with Luiz Carlos Trabuco Cappi becoming the new chairman at the bank, it will have to appoint a new CEO.
Lazaro Brandao’s influence at Bradesco will live on despite the fact that he already the fact. He joined the bank when it was formed in 1974. As such, Bradesco is his soul just as much as he is in the bank’s soul. Mr. Brandao spent the latter part of his seven-decade stay at Bradesco serving in the senior leadership positions at the bank. He was first appointed to the position of CEO before being named the chairman in 1990. He held both positions concurrently for nine years before Marcio Cypriano was appointed the CEO in 1999. He has greatly mentored most of the senior leaders currently at Bradesco, including Luiz Carlos Trabuco Cappi. Consequently, he has indirectly influenced the manner in which the bank will be run for the next few decades.
Choosing a new CEO is not an easy undertaking for any board of directors at any organization. Many considerations are involved in making the decision, chief among them deciding whether a candidate is suitable for the organization. To avoid this tricky obstacle, Bradesco will only appoint a CEO who has been working at the bank for some time now. That way, the bank will not have to worry about the new CEO acclimatizing himself to the organization or position. With this information in mind, it is highly probable that one of the current executive vice presidents at Bradesco will be promoted to the position of CEO.
To ensure the continued prosperity of the Bradesco brand, the board will also undergo some changes in the coming weeks. For starters, the CEO will no longer be a member of the board. Secondly, the board will likely be expanded as its current size of eight members is far too small for a bank of Bradesco’s stature according to brasil247.com. A decision on the ideal size of the bank’s board will be made in the coming weeks.
Barely a few months ago, Luiz Carlos Trabuco Cappi was meant to retire from the position as president of Bradesco. At the time, the bank’s regulations state that the retirement age for a president was 65 years. In fact, Luiz Carlos Trabuco Cappi appointment to the position in 2009 was only as a result of his predecessor Marcio Cypriano hitting the age of 65 and thus being forced to retire. Born in 1951, Luiz Carlos Trabuco Cappi was previously meant to retire in early 2016 when he would hit the mandatory retirement age of 65. However, the board deemed him to be too important and thus decided to extend the retirement age to 67 years thus pushing his retirement age to 2018. Now, only a few months to his newly-set retirement age, Luiz Carlos Trabuco Cappi’s stay at the bank has been extended by at least a few more years.
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